NY State Senate Bill 2017-S5439B

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 03, 2018	referred to investigations and government operations
Dec 04, 2017	print number 5439b
Dec 04, 2017	amend and recommit to investigations and government operations
May 19, 2017	print number 5439a
May 19, 2017	amend (t) and recommit to investigations and government operations
Mar 28, 2017	referred to investigations and government operations

Bill Amendments

Original

B (Active)

2017-S5439 - Details

See Assembly Version of this Bill:: A8047
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:: 2019-2020: S830, A954
2021-2022: S1699, A497
2023-2024: S192, A1458

2017-S5439 - Summary

Relates to providing a tax credit for the cost of wood pellets; defines "qualified densified biomass fuel expenditures" and "densified biomass fuel".

2017-S5439 - Sponsor Memo

                                 BILL NUMBER:  S5439

 TITLE OF BILL :

An act to amend the tax law, in relation to providing a tax credit for
a portion of the cost of qualified biomass fuel expenditures; and
providing for the repeal of such provisions upon expiration thereof

 PURPOSE :

This bill creates a tax credit for the purchase of biomass fuel for
residential use, typically wood pellets for use in a wood pellet
boiler.

 SUMMARY OF PROVISIONS :

Section 1. Amends the tax law to add a new subsection that permits a
resident owner of real property to claim a tax credit in an amount
equal to thirty percent of qualified biomass fuel expenditures;
defines "qualified biomass fuel expenditures" and "biomass fuel"
accordingly.

Section 2. Sets forth the effective date and expiration of the
aforementioned tax credit.

 JUSTIFICATION :

Wood-fueled heating systems, also called biomass systems, bum wood
pellets, chips or logs to provide warmth in a single room or to power
central heating and hot water boilers. Heating a home with a wood
pellet boiler has a number of advantages over heating with traditional
fossil fuels. Wood pellets cost as much as 60% less than traditional
heating fuel sources, and are a sustainable, renewable, and
carbon-neutral fuel source. Wood pellets are produced in a number of
locations throughout North America, with multiple producers located
within New York State.

Almost any home can be converted to utilize a wood pellet boiler,
either as a stand-alone heat source or as a primary heat source in
conjunction with a secondary backup boiler. NYSERDA currently offers a
number of incentives for residential homeowners to install wood pellet
boilers to heat their homes and convert from more traditional electric
and/or gas heat, but the incentives offered extend only to the
installation of new boilers and do not include any incentives for the
purchasing of fuel to use these boilers once installed.

This bill would create a tax credit for resident owners of real
property under the tax law for fuel expenditures, creating further
incentives to homeowners to install and use biomass heaters, and
potentially purchase wood pellets in anticipation of future use.  This
credit would expire after five years, at which time it would require a
renewal to continue. This bill would incentivize New Yorkers to
install and use biomass fuel to heat their homes, which in turn could
continue to drive the state toward record uses of renewable energy.

 LEGISLATIVE HISTORY :

New bill.

 FISCAL IMPLICATIONS :

To be determined.

 EFFECTIVE DATE :
This act shall take effect immediately and shall expire and be deemed
repealed five years after such effective date.

2017-S5439 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5439
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                              March 28, 2017
                                ___________
 
 Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment Operations
 
 AN ACT to amend the tax law, in relation to providing a tax credit for a
   portion of the  cost  of  qualified  biomass  fuel  expenditures;  and
   providing for the repeal of such provisions upon expiration thereof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
 subsection (ccc) to read as follows:
   (CCC) CREDIT FOR QUALIFIED BIOMASS FUEL EXPENDITURES. (1) ANY RESIDENT
 OWNER OF REAL PROPERTY AS DEFINED IN SECTION ONE HUNDRED TWO OF THE REAL
 PROPERTY TAX LAW SHALL BE ALLOWED A CREDIT AGAINST THE TAX IMPOSED UNDER
 THIS  ARTICLE  IN AN AMOUNT EQUAL TO THIRTY PERCENT OF QUALIFIED BIOMASS
 FUEL EXPENDITURES.
   (2) FOR PURPOSES OF THIS SUBSECTION, THE FOLLOWING  DEFINITIONS  SHALL
 APPLY:
   (A)  "QUALIFIED BIOMASS FUEL EXPENDITURES" SHALL MEAN EXPENDITURES FOR
 THE COST OF BIOMASS FUEL USED TO HEAT A DWELLING  UNIT  LOCATED  IN  THE
 STATE  AND USED AS A RESIDENCE BY THE TAXPAYER, OR TO HEAT WATER FOR USE
 IN SUCH A DWELLING UNIT, AND THAT HAS A THERMAL EFFICIENCY RATING OF  AT
 LEAST  SEVENTY-FIVE  PERCENT  AS MEASURED BY THE HIGHER HEATING VALUE OF
 THE FUEL.
   (B) "BIOMASS FUEL" SHALL MEAN ANY PLANT-DERIVED FUEL  AVAILABLE  ON  A
 RENEWABLE  OR  RECURRING  BASIS, INCLUDING AGRICULTURAL CROPS AND TREES,
 WOOD, WOOD WASTE RESIDUES, PLANTS, AND PLANT RESIDUES AND  FIBERS.  SUCH
 TERM SHALL INCLUDE COMPRESSED BIOMASS FUELS SUCH AS WOOD PELLETS.
   (3)  IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY
 TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR,  THE  EXCESS
 SHALL  BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09855-01-7

 S. 5439                             2
 
 ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
 ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   §  2.  This  act shall take effect immediately and shall expire and be
 deemed repealed five years after such effective date.

2017-S5439A - Details

See Assembly Version of this Bill:: A8047
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:: 2019-2020: S830, A954
2021-2022: S1699, A497
2023-2024: S192, A1458

2017-S5439A - Summary

Relates to providing a tax credit for the cost of wood pellets; defines "qualified densified biomass fuel expenditures" and "densified biomass fuel".

2017-S5439A - Sponsor Memo

                                 BILL NUMBER:  S5439A

 TITLE OF BILL :

An act to amend the tax law, in relation to providing a tax credit for
a portion of the cost of qualified densified biomass fuel
expenditures; and providing for the repeal of such provisions upon
expiration thereof

 PURPOSE :

This bill creates a tax credit for the purchase of biomass fuel for
residential use, typically wood pellets for use in a wood pellet
boiler.

 SUMMARY OF PROVISIONS :

Section 1. Amends the tax law to add a new subsection that permits a
resident owner of real property to claim a tax credit in an amount
equal to thirty percent of qualified biomass fuel expenditures;
defines "qualified biomass fuel expenditures" and "biomass fuel"
accordingly.

Section 2. Sets forth the effective date and expiration of the
aforementioned tax credit.

 JUSTIFICATION :

Wood-fueled heating systems, also called biomass systems, burn wood
pellets, chips or logs to provide warmth in a single room or to power
central heating and hot water boilers. Heating a home with a wood
pellet boiler has a number of advantages over heating with traditional
fossil fuels. Wood pellets cost as much as 60% less than traditional
heating fuel sources, and are a sustainable, renewable, and
carbon-neutral fuel source. Wood pellets are produced in a number of
locations throughout North America, with multiple producers located
within New York State.

Almost any home can be converted to utilize a wood pellet boiler,
either as a stand-alone heat source or as a primary heat source in
conjunction with a secondary backup boiler. NYSERDA currently offers a
number of incentives for residential homeowners to install wood pellet
boilers to heat their homes and convert from more traditional electric
and/or gas heat, but the incentives offered extend only to the
installation of new boilers and do not include any incentives for the
purchasing of fuel to use these boilers once installed.

This bill would create a tax credit for resident owners of real
property under the tax law for fuel expenditures, creating further
incentives to homeowners to install and use biomass heaters, and
potentially purchase wood pellets in anticipation of future use.  This
credit would expire after five years, at which time it would require a
renewal to continue. This bill would incentivize New Yorkers to
install and use biomass fuel to heat their homes, which in turn could
continue to drive the state toward record uses of renewable energy.

 LEGISLATIVE HISTORY :

New bill.

 FISCAL IMPLICATIONS :

To be determined.

 EFFECTIVE DATE :
This act shall take effect immediately and shall expire and be deemed
repealed five years after such effective date.

2017-S5439A - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5439--A
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                              March 28, 2017
                                ___________
 
 Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment  Operations  --  committee  discharged,  bill  amended,   ordered
   reprinted as amended and recommitted to said committee
 
 AN ACT to amend the tax law, in relation to providing a tax credit for a
   portion  of the cost of qualified densified biomass fuel expenditures;
   and providing for the repeal of such provisions upon expiration there-
   of
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  606  of  the  tax law is amended by adding a new
 subsection (ccc) to read as follows:
   (CCC) CREDIT FOR QUALIFIED DENSIFIED BIOMASS FUEL EXPENDITURES.    (1)
 ANY  RESIDENT  OWNER  OF REAL PROPERTY AS DEFINED IN SECTION ONE HUNDRED
 TWO OF THE REAL PROPERTY TAX LAW SHALL BE ALLOWED A CREDIT  AGAINST  THE
 TAX  IMPOSED  UNDER THIS ARTICLE IN AN AMOUNT EQUAL TO THIRTY PERCENT OF
 QUALIFIED DENSIFIED BIOMASS FUEL EXPENDITURES.
   (2) FOR PURPOSES OF THIS SUBSECTION, THE FOLLOWING  DEFINITIONS  SHALL
 APPLY:
   (A) "QUALIFIED DENSIFIED BIOMASS FUEL EXPENDITURES" SHALL MEAN EXPEND-
 ITURES  FOR  THE  COST OF DENSIFIED BIOMASS FUEL USED TO HEAT A DWELLING
 UNIT LOCATED IN THE STATE AND USED AS A RESIDENCE BY THE TAXPAYER, OR TO
 HEAT WATER FOR USE IN SUCH A DWELLING UNIT, AND WHERE THE STOVE,  BOILER
 OR  FURNACE USED TO CONVERT HEAT ENERGY IN THE DENSIFIED BIOMASS FUEL TO
 USEFUL THERMAL ENERGY HAS A THERMAL EFFICIENCY RATING OF AT LEAST SEVEN-
 TY-FIVE PERCENT AS MEASURED BY THE HIGHER HEATING VALUE OF THE FUEL.
   (B) "DENSIFIED BIOMASS FUEL" SHALL MEAN A SOLID FUEL  DERIVED  BY  THE
 MECHANICAL  DENSIFICATION  AND REFINING OF BIOMASS SOURCED FROM WOODY OR
 AGRICULTURAL FEEDSTOCKS. SUCH TERM SHALL INCLUDE WOOD PELLETS.
   (3) IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR  ANY
 TAXABLE  YEAR  SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR, THE EXCESS
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD09855-02-7

 S. 5439--A                          2
 
 SHALL BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED  IN
 ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
 ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   §  2.  This  act shall take effect immediately and shall expire and be
 deemed repealed five years after such effective date.

2017-S5439B (ACTIVE) - Details

See Assembly Version of this Bill:: A8047
Current Committee:: Senate Investigations And Government Operations
Law Section:: Tax Law
Laws Affected:: Amd §606, Tax L
Versions Introduced in Other Legislative Sessions:: 2019-2020: S830, A954
2021-2022: S1699, A497
2023-2024: S192, A1458

2017-S5439B (ACTIVE) - Summary

Relates to providing a tax credit for the cost of wood pellets; defines "qualified densified biomass fuel expenditures" and "densified biomass fuel".

2017-S5439B (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S5439B

SPONSOR: GALLIVAN
 
TITLE OF BILL:

An act to amend the tax law, in relation to providing a tax credit for a
portion of the cost of qualified densified biomass fuel expenditures;
and providing for the repeal of such provisions upon expiration thereof

 
PURPOSE:

This bill creates a tax credit for the purchase of biomass fuel for
residential use, typically wood pellets for use in a wood pellet boiler.

 
SUMMARY OF PROVISIONS:

Section 1. Amends the tax law to add a new subsection that permits a
resident owner of real property to claim a tax credit in an amount equal
to thirty percent of qualified biomass fuel expenditures; defines "qual-
ified biomass fuel expenditures" and "biomass fuel" accordingly.

Section 2. Sets forth the effective date and expiration of the aforemen-
tioned tax credit.

 
JUSTIFICATION:

Wood-fueled heating systems, also called biomass systems, burn wood
pellets, chips or logs to provide warmth in a single room or to power
central heating and hot water boilers. Heating a home with a wood pellet
boiler has a number of advantages over heating with traditional fossil
fuels. Wood pellets cost as much as 60% less than traditional heating
fuel sources, and are a sustainable, renewable, and carbon-neutral fuel
source. Wood pellets are produced in a number of locations throughout
North America, with multiple producers located within New York State.

Almost any home can be converted to utilize a wood pellet boiler, either
as a stand-alone heat source or as a primary heat source in conjunction
with a secondary backup boiler. NYSERDA currently offers a number of
incentives for residential homeowners to install wood pellet boilers to
heat their homes and convert from more traditional electric and/or gas
heat. However, such incentives are not applicable for the purchase of
fuel to use in these boilers once installed.

This bill would create a tax credit for resident owners of real property
under the tax law for fuel expenditures, incentivizing New Yorkers to
install and use biomass fuel to heat their homes, which in turn could
continue to drive the state toward record uses of renewable energy.

 
LEGISLATIVE HISTORY:

New bill.

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately and shall expire and be deemed
repealed five years after such effective date.

2017-S5439B (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5439--B
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                              March 28, 2017
                                ___________
 
 Introduced  by Sen. GALLIVAN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Investigations and Govern-
   ment  Operations  --  committee  discharged,  bill  amended,   ordered
   reprinted  as  amended  and recommitted to said committee -- committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN ACT to amend the tax law, in relation to providing a tax credit for a
   portion of the cost of qualified densified biomass fuel  expenditures;
   and providing for the repeal of such provisions upon expiration there-
   of
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
 subsection (ccc) to read as follows:
   (CCC)  CREDIT  FOR QUALIFIED DENSIFIED BIOMASS FUEL EXPENDITURES.  (1)
 ANY RESIDENT OWNER OF REAL PROPERTY AS DEFINED IN  SECTION  ONE  HUNDRED
 TWO  OF  THE REAL PROPERTY TAX LAW SHALL BE ALLOWED A CREDIT AGAINST THE
 TAX IMPOSED UNDER THIS ARTICLE IN AN AMOUNT EQUAL TO THIRTY  PERCENT  OF
 QUALIFIED DENSIFIED BIOMASS FUEL EXPENDITURES.
   (2)  FOR  PURPOSES OF THIS SUBSECTION, THE FOLLOWING DEFINITIONS SHALL
 APPLY:
   (A) "QUALIFIED DENSIFIED BIOMASS FUEL EXPENDITURES" SHALL MEAN EXPEND-
 ITURES FOR THE COST OF  DENSIFIED  BIOMASS  FUEL,  MANUFACTURED  IN  THE
 UNITED  STATES  OF  AMERICA, AND USED TO HEAT A DWELLING UNIT LOCATED IN
 THE STATE AND USED AS A RESIDENCE BY THE TAXPAYER, OR TO HEAT WATER  FOR
 USE IN SUCH A DWELLING UNIT.
   (B)  "DENSIFIED  BIOMASS  FUEL" SHALL MEAN A SOLID FUEL DERIVED BY THE
 MECHANICAL DENSIFICATION AND REFINING OF BIOMASS SOURCED FROM  WOODY  OR
 AGRICULTURAL FEEDSTOCKS. SUCH TERM SHALL INCLUDE WOOD PELLETS.
   (3)  IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY
 TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR,  THE  EXCESS
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD09855-04-7

 S. 5439--B                          2
 
 SHALL  BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN
 ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
 ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   §  2.  This  act shall take effect immediately and shall expire and be
 deemed repealed five years after such effective date.

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Senate Bill S5439B

Sponsored By

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

Bill Amendments

2017-S5439 - Details

2017-S5439 - Summary

2017-S5439 - Sponsor Memo

2017-S5439 - Bill Text download pdf

2017-S5439A - Details

2017-S5439A - Summary

2017-S5439A - Sponsor Memo

2017-S5439A - Bill Text download pdf

2017-S5439B (ACTIVE) - Details

2017-S5439B (ACTIVE) - Summary

2017-S5439B (ACTIVE) - Sponsor Memo

2017-S5439B (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S5439B

Share this bill

Sponsored By

Patrick M. Gallivan

Archive: Last Bill Status - In Senate Committee Investigations And Government Operations Committee

Bill Amendments

2017-S5439 - Details

2017-S5439 - Summary

2017-S5439 - Sponsor Memo

2017-S5439 - Bill Text download pdf

2017-S5439A - Details

2017-S5439A - Summary

2017-S5439A - Sponsor Memo

2017-S5439A - Bill Text download pdf

2017-S5439B (ACTIVE) - Details

2017-S5439B (ACTIVE) - Summary

2017-S5439B (ACTIVE) - Sponsor Memo

2017-S5439B (ACTIVE) - Bill Text download pdf

Comments